Bio-Techne Corp $TECH Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lessened its position in Bio-Techne Corp (NASDAQ:TECH) by 65.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,532 shares of the biotechnology company’s stock after selling 60,378 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Bio-Techne were worth $1,648,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Morgan Stanley lifted its holdings in Bio-Techne by 15.3% in the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock valued at $490,794,000 after acquiring an additional 1,107,536 shares during the last quarter. State Street Corp lifted its stake in Bio-Techne by 1.0% during the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock valued at $341,806,000 after purchasing an additional 58,639 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Bio-Techne by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after buying an additional 618,916 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Bio-Techne by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock worth $239,663,000 after buying an additional 725,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after buying an additional 2,495,328 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Leerink Partners set a $73.00 target price on Bio-Techne in a research report on Thursday, June 25th. Royal Bank Of Canada downgraded Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $62.00 to $73.00 in a report on Thursday, July 9th. Finally, Benchmark lowered Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bio-Techne has an average rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Stock Down 0.7%

Shares of Bio-Techne stock opened at $71.64 on Tuesday. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16. The company has a market cap of $11.22 billion, a P/E ratio of 103.83, a P/E/G ratio of 8.59 and a beta of 1.29. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $58.36 and a 200 day moving average price of $58.47.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. As a group, analysts expect that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Bio-Techne’s payout ratio is presently 46.38%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.